Global Markets: US equities plunged on Monday with Dow closing about 3,000 points lower, as panic selling continued over COVID-19 fallout. The Dow Jones Industrial Average fell 2,997.10 points, or 12.93 per cent, to 20,188.52. The S&P 500 lost 324.89 points, or 11.98 per cent, to end at 2,386.13. The Nasdaq Composite Index was down 970.28 points, or 12.32 per cent, to 6,904.59, Xinhua reported.

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All the 11 primary S&P 500 sectors ended significantly lower, with the real estate down 16.55 per cent, representing the worst-performing group.

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The major averages fell to their lows in late session after US President Donald Trump said the US economy "may be" headed for recession and that the COVID-19 outbreak could last for months.

Trading was halted for 15 minutes on Wall Street shortly after the opening bell as a dip of 8.14 per cent on the benchmark S&P 500 triggered a circuit breaker. It was the third time that the circuit breaker, or trading halt, has been tipped since last week.